PARROT

2024 FIRST-QUARTER BUSINESS

        PRESS RELEASE
        May 16, 2024 - 8:00am CET

2024 FIRST-QUARTER BUSINESS

Consolidated revenues of €15.8m
Positive commercial trends for professional microdrones

The Parrot group, a European leader for professional microdrones, recorded €15.8m of consolidated revenues for the first quarter of 2024, down 5% (same at constant exchange rates). Commercial trends are positive for professional microdrones (+4%) and the Photogrammetry business is looking ahead to the impact of the innovations launched in April (-11%). The good level of the gross margin and the strict control over costs kept operating expenditure at a level that is aligned with the Group’s ambitions for development.

REVENUES €m and % of revenues		Q1 2024 3 months		Q1 2023 3 months		Change	FY 2023 12 months
A	Professional microdrones Of which, legacy products	9.3 0.0	59%	9.4 0.5	57%	-1%	33.2 1.2	51%
C	Photogrammetry	6.4	41%	7.2	43%	-11%	31.8	49%
D	Parrot SA	0.2	-	0.2		-	0.7
E	Intragroup eliminations	-0.2	-	-0.2		-	-0.7
	PARROT GROUP TOTAL	15.8	100%	16.7	100%	-5%	65.0	100%

Professional microdrones business

The professional microdrones business recorded €9.3m of revenues, representing 59% of Group revenues. Restated for the impact of legacy products, the ANAFI professional microdrones range generated €9.3m of revenues during the first quarter of 2024, up 4% from €8.9m for the first quarter of 2023. Sales momentum was driven in particular by new procurements from the French Defense Procurement Agency (Direction Générale de l'Armement) as part of the microdrone framework program. Tenders have been won in several European countries, the UK, the USA, Canada and JAPAC countries, while order intake remain dependent on the timelines for managing state budgets in several NATO countries.